PRESS DIGEST - Malaysia - Jan 13

Following are the main stories in Malaysian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

ALL NEWSPAPERS

-- Members of Parliament (MPs) from both sides of Dewan Rakyat (People Legislative) roundly condemned Israel's invasion of the Gaza Strip and approved Prime Minister Abdullah Ahmad Badawi's motion against its atrocities.

THE STAR (www.thestar.com.my)

-- The Malaysian Industrial Development Authority (Mida) will be transformed into a one-stop centre empowered to undertake all investment approval, except utilities and financial services, as the government steps up efforts to attract more foreign direct investments, International Trade and Industry Minister Muhyiddin Yassin said.

-- The weak economic environment has made it tougher for financially troubled PN17 companies on Bursa Malaysia to tap funds to regularise their financial condition, analysts said.

BUSINESS TIMES (www.btimes.com.my)

-- Fed up with the abuse of approved permits (APs), the government is drawing up a five-year development plan for motor traders to expand their business, International Trade and Industry Minister Muhyiddin Yassin said.

-- Berjaya Corp Bhd (BGRO.KL) and The Ritz-Carlton Hotel Company plan to develop luxury condominium that would sell for two billion ringgit, as they bet that the rich will continue to splash on high-end property, Berjaya Corp Chairman Vincent Tan Chee Yioun said.

THE EDGE FINANCIAL DAILY (www.theedgedaily.com)

-- The current practice of allocating open-Approved Permits (open-APs) to bumiputera motor traders will continue beyond 2010 while the government implements a five-year plan that charts the migration of the dealers into other areas of the industry, International Trade and Industry Minister Muhyiddin Yassin said.

THE MALAYSIAN RESERVE (www.themalaysianreserve.com)

-- A number of approved foreign direct investments (FDIs) worth between 5 billion ringgit and 8 billion ringgit involving heavy industries had to be held back due to a shortage in natural gas, said International Trade and Industry Minister Muhyiddin Yassin.

THE SUN (www.sun2surf.com)

-- Deputy Prime Minister Najib Razak said on Monday the government is leaving it to individual consumers to make their own decision on whether to join the call by some politicians and non-government organisations to boycott US currency and goods in response to Israeli's invasion of the Gaza Strip.

-- Wangsa Tegap Sdn Bhd, a wholly-owned subsidiary of Berjaya Corporation Bhd (BGRO.KL) has entered into several agreements with The Ritz-Carlton Hotel Company LLC for its development of a 300-unit luxury condominium property, Berjaya Corp and Wangsa Tegap Chairman Vincent Tan Chee Yioun said.

** Looking for more information from local sources? Reuters Business Briefing has 13 Malaysian sources including Business Times Malaysia. For details of the product please call your local help desk (PHONE/HELP).